Air Serbia registers €40 million in Covid losses
Serbia’s Deputy Prime Minister and Minister for Construction, Transport and Infrastructure, Zorana Mihajlović, has said the country’s national carrier, Air Serbia, has registered over forty million euros in direct losses as a result of the coronavirus Covid-19 outbreak. Ms Mihajlović noted the figure will grow once indirect losses are added. However, the Minister said the ongoing health crisis has illustrated Air Serbia’s importance. “This entire situation has shown how vital it is for Serbia to have its own national carrier, which has been performing humanitarian and cargo flights over the past month. Air Serbia has carried both our nationals and foreigners to their countries of origin”, Ms Mihajlović noted.
The Deputy Prime Minister said Air Serbia faces a long road to recovery which will stretch into 2021. The country has previously said it will provide financial support for its national carrier either through recapitalisation or corporate bonds. “The European aviation industry has been hit with 160 billion euros in losses, so Serbia is not immune”, Ms Mihajlović said. Prior to the Covid-19 outbreak, Air Serbia was on course for a record year and estimated passenger growth of up to 30% only during the first quarter of 2020. The carrier registered a net profit of 12.2 million euros in 2018, with its 2019 results to be published in July or August of this year.
Air Serbia has scheduled May 1 as a tentative date for its resumption of operations, although this will depend on the country’s ongoing state of emergency and the lifting of its ban on commercial flights. The airline has been operating an average of two daily repatriation services since it was grounded on March 20. Since then, some 7.700 passengers have been carried to and from Serbia, while the Serbian carrier has also transported several thousand tons of aid. The company will today bring back stranded Serbian nationals from the United States on a flight from Washington, while a repatriation flight will also be operated to Kiev.
0 Response to "Air Serbia registers €40 million in Covid losses"
Post a Comment